Oman’s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) is advancing its 2025 investment strategy with bold reforms aimed at enhancing the country’s investment climate and global competitiveness.
Speaking to the Observer, Investment Promotion Under-Secretary Ibtisam al Farooji outlined key 2024 achievements, including a targeted outreach to 200 companies resulting in several Letters of Intent, and the launch of the Oman Exports Platform to boost export visibility. Looking ahead, the Ministry is preparing to host the Advantage Oman Forum to attract global investors. Additionally, 22 new investment opportunities will be unveiled across the governorates, supported by localized strategies and partnerships with consulting firms.
“We reviewed today, during the Ministry’s media briefing, the major outcomes of 2024 in the field of investment promotion, with emphasis on the execution of our targeted company outreach strategy,” Al Farooji said.
According to the Under-Secretary, the Ministry formed a specialized technical team in collaboration with stakeholders from key economic diversification sectors and the Invest in Oman platform. This joint effort aimed to identify and engage high-potential companies across multiple sectors. “We successfully targeted around 200 companies, resulting in the signing of several Letters of Intent (LoIs) with interested investors. These were subsequently handed over to the relevant teams to facilitate processing, negotiation, and follow-up,” she explained.
Among the Ministry’s standout achievements in 2024 was the launch of the Oman Exports Platform, a digital initiative designed to boost the visibility and competitiveness of Omani exports in global markets. “The platform includes a comprehensive website offering open data to guide exporters into targeted international markets, along with an interactive digital interface that connects Omani exporters with global buyers,” Al-Farooji noted.
She stressed that the Oman Exports Platform has become a key tool to empower local exporters, enabling them to expand their reach through structured data and digital connectivity.
Turning to the Ministry’s agenda for 2025, Al Farooji emphasized that a cornerstone initiative is the comprehensive evaluation of Oman’s Foreign Capital Investment Law. “We have already taken the first step by launching a new interactive feature on the Invest in Oman platform. This tool invites investors to review and provide feedback on the provisions of the law and its executive regulations,” she said. “It marks a vital preliminary step toward assessing the law’s overall effectiveness in attracting foreign capital and improving the business environment.”
This participatory approach reflects the Ministry’s commitment to engaging stakeholders in shaping policy, with the ultimate goal of enhancing the legal and regulatory framework governing foreign investments.
In addition, MoCIIP plans to elevate Oman’s global investment profile by hosting the Advantage Oman Forum later this month. The forum will bring together CEOs and top-tier executives from around the world who are exploring investment opportunities in Oman’s priority sectors, particularly those linked to economic diversification.
The Under-Secretary also reviewed the performance of the Invest in Oman Lounge over the past two years.
“Between 2023 and 2024, the Lounge received approximately 90 serious investment projects, including 40 committed investments and 73 active initiatives. These projects represent an estimated total value of RO 1.8 billion, with the majority concentrated in the manufacturing sector,” she stated. She added that the tangible impact of these projects is expected to materialize within one to two years from their operational start.
Regarding geographic equity in investment promotion, Al Farooji reaffirmed the Ministry’s efforts to localize opportunities across Oman’s governorates. “Every governorate has a unique competitive advantage or sector that is naturally more attractive for investment. Therefore, in 2025, we are working closely with governors to identify and structure bankable opportunities in the regions,” she said.
To support this initiative, three consulting firms have been appointed to frame strategic opportunities tailored to local strengths. “We anticipate the announcement of 22 new investment opportunities across various governorates during the year,” she added.
